Find the Compound Interest on Rs80000 for 1 1 half years at 10%p.a interest being compounded annually.
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Find the Compound Interest on Rs80000 for 1 1 half years at 10%p.a interest being compounded annually.
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Answer:
Given Principle P=Rs.8000
Time t=1
2
1
=
2
3
years
But, as the interest is compounded half yearly t=
2
3
×2=3years
Rate of interest R=10%
A=P(1+
100
R
)
t
A=8000(1+
100
10
)
3
A=8000(
100
110
)
3
A=8000×(1.1)
3
A=8000×1.331
A=10648
CI=A−P
CI=10648−8000
CI=Rs.2648
Answer:
If interest is compounded half yearly, rate of interest = R / 2 and A = P [ 1 + ( {R / 2} / 100 ) ]T, where 'T' is the time period. For example, if we have to calculate the interest for 1 year, then T = 2. For 2 years, T = 4.
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